EA/Take-Two Deadline Extended Again
deadline passes on MCV reminds us that yesterday was the second deadline for
EA's takeover bid for Take-Two Interactive, which once again passed without
incident. Undeterred,
this press release
(thanks Gamer's Hell) announces EA has extended their offer for another month, until
July 18, and contrary to some indications, they have not chosen to sweeten the
offer at all. Take-Two has not wasted any time in reacting, issuing
this response,
saying this continues to undervalue their company, as evidenced by the number of
shares EA has so far collected under the offer, approximately 7.9%, more than a
little short of a controlling interest.
The story quotes an analyst saying they expect EA to run this horse around
the track once again by extending another deadline, though they seem to think
they will sweeten the deal by raising their offer slightly, as opposed to the
"incentive" they offered last time when they lowered their offer. Word is EA
stock closed up seven cents at the end of trading yesterday, while Take-Two
suffered a seven cent decline.
Note: This article has been bookmarked by a user. Please visit the source website for the complete article.
You must be logged in to post comments.
